Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (21607)	7/24/2002 3:35:15 AM
From: Bocor	Read Replies (1) of 74559

Most have believed for some time that there was a massive gold short position by the money center banks, C, Morgan and others. They can neither let gold rise too far nor their stock prices fall too fast. So, they have to meet this by raising capital to both depress gold and keep their own stock afloat. They are in the middle of a huge hard place right about now; If their stock falls, their reserves fall and they become insolvent. If gold spikes over $350 their derivatives trades collapse and they become insolvent. They must contain both and IMO that's what's going on right now. It will not permanently halt gold rising nor their stocks falling. One can only postpone the inevitable, not contain it.

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